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標題: reason not nuying RRSP? [打印本頁]
作者: bearbear    時間: 2010-1-31 23:15     標題: reason not nuying RRSP?

Any reason you are not buying RRSP?
作者: 快樂牛郎    時間: 2010-1-31 23:33

1) Future tax rates will almost certainly be higher than they are right now
2) You won't take the money out until you retire (most cases), but you might not live till you retire
3) Clawbacks if you have too much in your RRSP
4) It just sits idle in your account and it's very easy to forget about it
5) There are a lot of restrictions on how you can invest in a registered account
作者: 快樂牛郎    時間: 2010-1-31 23:34

6) If you decide to migrate to another country, you need to think about when you want to withdraw it
7) Many people passively put it in some shxt mutual fund and let it erode
8) A few thousand dollars a year won't make you rich when you retire
作者: Catpiano    時間: 2010-2-1 04:02

Simple reason ..  no money to buy ....
作者: hium    時間: 2010-2-1 10:10

6) If you decide to migrate to another country, you need to think about when you want to withdraw it
7) Many people passively put it in some shxt mutual fund and let it erode
8) A few thousand dollars ...
快樂牛郎 發表於 2010-2-1 00:34




Agree X 100~ stop getting brain-wash by the government and the banks ppl!
作者: 快樂牛郎    時間: 2010-2-1 10:47


Agree X 100~ stop getting brain-wash by the government and the banks ppl!
hium 發表於 2010/2/1 10:10


But then, out of my own self interest, I would much rather see more people shoving up RRSP, since it's one of the foundations of the stock market.  Imagine what would happen if everybody decides to keep cash and sell their funds/stocks.
作者: sheep    時間: 2010-2-1 10:51

6# 快樂牛郎


Money printing machine keep rolling
作者: peter236    時間: 2010-2-1 12:49

本帖最後由 peter236 於 2010-2-1 13:50 編輯
But then, out of my own self interest, I would much rather see more people shoving up RRSP, since it's one of the foundations of the stock market.  Imagine what would happen if everybody decides to  ...
快樂牛郎 發表於 2010-2-1 11:47

What has that to do with RRSP? People can buy mutual funds outside or inside RRSP.
作者: 快樂牛郎    時間: 2010-2-1 13:02

What has that to do with RRSP? People can buy mutual funds outside or inside RRSP.
peter236 發表於 2010/2/1 12:49


How many people would voluntarily buy stocks/mutual funds if it wasn't for RRSP?
作者: B仔    時間: 2010-2-1 13:22

覺得冇需要買
冇興趣去研究買乜
所以我冇買
作者: tsumorichisato    時間: 2010-2-1 14:05

10# B仔


我覺得買ok, 但要知道點解你要買, 高人工買D可以降一個tax bracket, 0甘RRSP 響呢度好有用
但如果為左save $$, 對我來講就算把啦.........
作者: pkphilip    時間: 2010-2-1 21:37

The reason I buy is to lower my tax bracket - I have yet to be so rich to share my wealth with the government. Still, I didn't really "pay" for my RRSP. I did something called the in-kind contribution - I simply move some slow performing stocks into my RRSP trading account and let it sit there for the time being.

I think as an investor, if you can play with TFSA and RRSP accordingly, you save quite a bit of taxes.

Philip
作者: kingsway    時間: 2010-2-3 00:15

The reason I buy is to lower my tax bracket - I have yet to be so rich to share my wealth with the government. Still, I didn't really "pay" for my RRSP. I did something called the in-kind contribution ...
pkphilip 發表於 2010-2-1 22:37


Nice~  That's good..  I shall check with my brokerage and see how to do the in-kind contribution..
Thanks..
作者: tofu    時間: 2010-2-3 22:18

no money to buy
作者: tofu    時間: 2010-2-3 22:33

1) Future tax rates will almost certainly be higher than they are right now
-probably, but the govn't may have regulation to lower rrsp income insist people to have their own retirement fund
2) You won't take the money out until you retire (most cases), but you might not live till you retire - what are the difference of you keep your money in the safe,  if you don't live long enough to enjoy it.  before you use the money, it is just a number
3) Clawbacks if you have too much in your RRSP - if you are stupid enough not to read your noa before contribution, you better not to make any investment
4) It just sits idle in your account and it's very easy to forget about it
-it will just happen to any account
5) There are a lot of restrictions on how you can invest in a registered account
-yes there are restriction, but the options are more than enough for normal person
6) If you decide to migrate to another country, you need to think about when you want to withdraw it - same as non-rrsp account.  timing & tax implication apply to both.
7) Many people passively put it in some shxt mutual fund and let it erode
-same as non-rrsp account
8) A few thousand dollars a year won't make you rich when you retire
-agree, no matter rrsp or not
作者: pkphilip    時間: 2010-2-4 14:05

Bear in mind that when doing any in-kind contribution, it will be treated as a sell and re-buy, you must take note of the cost of the positions that you bought; once the positions are transferred, the cost will be the market value of the moment that is transferred.

2 scenerios will happen after the transfer:
- cost is up, you must report this as "capital gain" in your tax report
- cost is down, this is a capital loss, but you can't report this in this case (I need to verify this)

Philip
作者: chobit    時間: 2010-2-4 17:26

I think it make sense if your company would do matching.  Say first 100% match for your first 5% income, then 50% up to 10% etc...!  Then you are making 100% profit right away..,when you decide to sell them.. you may be tax, but for less than what you have already made...!
作者: 快樂牛郎    時間: 2010-2-4 17:31

I think it make sense if your company would do matching.  Say first 100% match for your first 5% income, then 50% up to 10% etc...!  Then you are making 100% profit right away..,when you decide to sel ...
chobit 發表於 2010/2/4 17:26


But most matchings have 3-5 years of vesting period.

Our generation these days don't usually stay at the same company for that long.
作者: chobit    時間: 2010-2-4 21:33

Guess I am too old cake then haha!!

But most matchings have 3-5 years of vesting period.

Our generation these days don't usually stay at the same company for that long.
快樂牛郎 發表於 2010-2-4 17:31
作者: ricrick    時間: 2010-2-6 14:04

if you are a first time home buyer, it is a good way to save your down pay
作者: ricrick    時間: 2010-2-6 14:13

本帖最後由 ricrick 於 2010-2-6 15:14 編輯

simply.. i think.. buying rrsp is like saving money for yourself (have the chance to get it back someday...) or throwing your money into the salty sea(paying taxes)
作者: 快樂牛郎    時間: 2010-2-6 14:38

simply.. i think.. buying rrsp is like saving money for yourself (have the chance to get it back someday...) or throwing your money into the salty sea(paying taxes)
ricrick 發表於 2010/2/6 14:13


That's exactly what the government and the fund companies want you to think.
作者: ricrick    時間: 2010-2-6 15:51

ofcos.. they produce rrsp to make you think like this and make u to save money, at the same time.. earn your money.. maybe a both side win
ofcos.. u may earn more by investing something else.. but.. for people who don't know much about investment... it is the simplest way, at least, for long term, better then just put the money in the saving account
作者: 快樂牛郎    時間: 2010-2-6 18:04

ofcos.. they produce rrsp to make you think like this and make u to save money, at the same time.. earn your money.. maybe a both side win
ofcos.. u may earn more by investing something else.. but.. f ...
ricrick 發表於 2010/2/6 15:51


A lot of it has to do with how committed you are to this country.
I.e. If they jack up your tax rate to 45%, would you still stay in Canada.

If you do, RRSP is for you.  If not, keep cash.
作者: kingsway    時間: 2010-2-7 00:28

In this case, RRSP is for me since I will stay here in Canada.
I can see the benefit of contribution to RRSP.
作者: 大C姐    時間: 2010-2-7 10:58

我從來無買RRSP。

-- 大C姐
作者: peter236    時間: 2010-2-7 17:17

我從來無買RRSP。

-- 大C姐
大C姐 發表於 2010-2-7 11:58

Do you buy the TFSA?
作者: ricrick    時間: 2010-2-8 00:05

本帖最後由 ricrick 於 2010-2-8 01:20 編輯
我從來無買RRSP。

-- 大C姐
大C姐 發表於 2010-2-7 11:58

you don't buy rrsp becos...
1. no income in canada
2. too poor that you don't have the money to contribute
3. too rich that you don't need to care your life after retirement
4. too rich that you really want to pay your income tax in full

if you are one of the above, congrats
if none of the above, i would consider you are stupid
作者: ricrick    時間: 2010-2-8 00:17

本帖最後由 ricrick 於 2010-2-8 01:22 編輯
A lot of it has to do with how committed you are to this country.
I.e. If they jack up your tax rate to 45%, would you still stay in Canada.

If you do, RRSP is for you.  If not, keep cash.
快樂牛郎 發表於 2010-2-6 19:04


you can always withdraw your rrsp whenever you like, all you have to do is pay back the tax
if you are not staying in canada and not paying income tax in canada, there is no point for you to buy rrsp

rrsp is all above saving. it is not a money making tool
the benefit is that you can save your income tax, and, at the same time, keep your money in your pocket all tax free until you get back your money when you are retired
作者: 快樂牛郎    時間: 2010-2-8 00:51

本帖最後由 快樂牛郎 於 2010-2-8 00:53 編輯
you can always withdraw your rrsp whenever you like, all you have to do is pay back the tax
if you are not staying in canada and not paying income tax in canada, there is no point for you to buy rrs ...
ricrick 發表於 2010/2/8 00:17


Supposed you've accumulated 150K in RRSP over say 15 years.

Suddenly Canada jacks up your tax rate to 40%.

What would you do then?

Withdraw all your RRSP at once and pay $60K in taxes?
作者: 快樂牛郎    時間: 2010-2-8 00:53

you can always withdraw your rrsp whenever you like, all you have to do is pay back the tax
if you are not staying in canada and not paying income tax in canada, there is no point for you to buy rrs ...
ricrick 發表於 2010/2/8 00:17


It's not even clear if you can actually "save" through RRSP, since you don't know what your future liabilities will be.
作者: ricrick    時間: 2010-2-8 11:03

本帖最後由 ricrick 於 2010-2-8 12:32 編輯
Supposed you've accumulated 150K in RRSP over say 15 years.

Suddenly Canada jacks up your tax rate to 40%.

What would you do then?

Withdraw all your RRSP at once and pay $60K in taxes?
快樂牛郎 發表於 2010-2-8 01:51

Typically, you are not supposed to withdraw money from the RRSP before you retire, and u are forced to do so..
unless you are 1st time home buyer
the main purpose of rrsp is to save money for your retirement
作者: zuesel    時間: 2010-2-8 12:55

We try to buy rrsp to lower our taxes. With the return we get back, we put towards our mortgage as a one shot deal per year in addition to our monthly mortgage payment. We are quite pleased that our mortgage will be paid in full a lot sooner than we expect!
作者: tofu    時間: 2010-2-8 14:05

you don't buy rrsp becos...
1. no taxable income in canada
2. too poor that you don't have the money to contribute
3. too rich that you don't need to care your life after retirement
4. too rich that you really want to pay your income tax in full

maybe she has a really good RPP or she has child credit/disability credit...many different types of credit to write of her income
作者: 大C姐    時間: 2010-2-8 17:43

you don't buy rrsp becos...
1. no income in canada
2. too poor that you don't have the money to contribute
3. too rich that you don't need to care your life after retirement
4. too rich that you rea ...
ricrick 發表於 2010-2-8 01:05



我唔買係...因為我好多tax credit。

雖然我都係一個死窮鬼﹐但係真係唔覺得RRSP夠我退休﹐所以唔會靠佢。而且RRSP真係唔夠flexible﹐呢個係好多人覺得唔方便嘅地方。

-- 世界居民大C姐
作者: ricrick    時間: 2010-2-8 18:26

to save money, you don't want it flexible, you want it stable
作者: mcjohnjohn    時間: 2010-2-8 18:53

to save money, you don't want it flexible, you want it stable
ricrick 發表於 2010-2-9 10:26

如果係投資既話, 我又覺得flexibility 都幾緊要架woh~
作者: tofu    時間: 2010-2-8 18:59

"""因為我好多tax credit"""
can you share what kind of tax credits you get?  help us to save some money ma.

flexible is good or not really depend on yourself la.  some people will need to force to save money, so flexible means spend it easier or never able to save
作者: 快樂牛郎    時間: 2010-2-8 19:12

some people will need to force to save money, so flexible means spend it easier or never able to save


They need a psychiatrist, or a therapist, not RRSP
作者: ricrick    時間: 2010-2-8 21:49

如果係投資既話, 我又覺得flexibility 都幾緊要架woh~
mcjohnjohn 發表於 2010-2-8 19:53

rrsp is like 強積金 in hk.. however it is not 強積
ofcos there is no flexibility, cos you are not supposed to take it out b4 retirement
作者: mcjohnjohn    時間: 2010-2-8 22:43

rrsp is like 強積金 in hk.. however it is not 強積
ofcos there is no flexibility, cos you are not supposed to take it out b4 retirement
ricrick 發表於 2010-2-9 13:49

如果強積金唔係強積既話, 我諗我都唔會參與law, 搵熟人幫手投資回報仲理想呀~
作者: tofu    時間: 2010-2-8 23:09

not sure i need a psychiatrist or therapist or not, but i will spend money on rrsp instead.  they did the same thing to me but rrsp gives me return
作者: tofu    時間: 2010-2-8 23:16

rrsp has much more flexibility than 強積金
1.  you can take any amount at anytime you want(yes, you may need to pay tax when you take it out, but you enjoy the tax credit when you contribute wor)
2.  you can handle your investment option, so you can find 熟人 handle it for you if you need to
3.  no min. amount.

why you think rrsp is not flexible
作者: kingsway    時間: 2010-2-8 23:30

"""因為我好多tax credit"""
can you share what kind of tax credits you get?  help us to save some money ma.

flexible is good or not really depend on yourself la.  some people will need to force to sav ...
tofu 發表於 2010-2-8 19:59


Yes.. I am interested to know.. Basically, tax credits are not much..  just tuition, medical, spouses, age.. and what else?
Please tell us more so we can save.  Thanks..
作者: ricrick    時間: 2010-2-8 23:58

做雞and有好多仔女，甘就吾洗比稅，又有政府養喇
作者: biggie    時間: 2010-3-6 01:15

Yes.. I am interested to know.. Basically, tax credits are not much..  just tuition, medical, spou ...
kingsway 發表於 2010-2-8 23:30



What you contribute to a RRSP and claim it on your tax return, there is no "Tax credit". The reduction in taxes is because your taxable income is reduced.
作者: kingsway    時間: 2010-3-8 01:52

回復 46# biggie

I know.. RRSP is a deduction of income, and it is not tax credit.  Big C sister said that she has good income, and she doesn't buy RRSP and get many tax credits to use, so she pays less tax.  I am very interested to know.. any kinds of tax credits we can use?   

Sigh... Finally, I have no money, so it turns out that I did not invest in RRSP this year.
作者: biggie    時間: 2010-3-9 09:56

本帖最後由 biggie 於 2010-3-9 09:58 編輯
回復  biggie

I know.. RRSP is a deduction of income, and it is not tax credit.  Big C sister said  ...
kingsway 發表於 2010-3-8 01:52


There are tax credits which are only available when you meet certain requirements. You should consult with a QUALIFIED accountant to assess your situation.
作者: samsung    時間: 2010-3-15 09:05

做雞and有好多仔女，甘就吾洗比稅，又有政府養喇
ricrick 發表於 2010-2-8 23:58



   
作者: habitrailspace    時間: 2010-3-15 14:50

回復  biggie

I know.. RRSP is a deduction of income, and it is not tax credit.  Big C sister said  ...
kingsway 發表於 2010-3-8 01:52


BIG C
- has lot's of kids under 16
- caregiver
- disability
- donation
- partner do nothing



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